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HomeMy WebLinkAbout1985 Johnson, LutherWARRANTY DEED FROM INDIVIDUAL TO CORPORATION M... RAMCO FORM 34 417475 This barranty feed Made the a 2 day of M A,� A. D. 19Y-S- by Luther S. Johnson and Patricia A. Johnson, his wife hereinafter called the grantor, to City of Sebastian, a Municipal Corporation a corporation existing under the laws of the State of Florida with its permanent postof fice address at P.O. Box 127, Sebastian, Florida 32958 hereinafter called the grantee: (Wherever used herein the terms "grantor" and "grantee" include all the parties to this instrument and the heirs, legal representatives and assigns of individuals, and the successors and assigns of corporations) bitnesseth: That the grantor, for and in consideration of the sum of $ 10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, re- mises, releases, conveys and confirms unto the grantee, all that certain land situate in Indian River County, Florida, viz: Lot 1, Block 208, of SEBASTIAN HIGHLANDS, Unit 10, a Subdivision according to the Plat thereof, as recorded in Plat Book 6, Pages 37 and 37J, of the Public Records of Indian River County, Florida. Grantor hereby certifies that the above land is vacant and not subject to homestead. Grantor's residence is property other than that being conveyed. MIS INSTRUMENT :- r ' -., I--- u, CD :, } � ~7 :i7 ^; t_ C c-; - - iT c f'1 r EXECUTIVE TITLE 0F. SE _ i _._ =`J r P.O. BOX 1960, SEA 1 i �1��: AS A NECESSARY INCiG�`.i iv tU a.LIVI:. r `) P r1 ' OF CONDITIONS C`dTA!itED INN III INSURANCE COMMITMENT ISSUED BY li." CD 1109ether with all the tenements, hereditaments and appurtenances thereto belonging or in any- wise appertaining. To Raw and to hold, the same in fee simple forever. FREDA WRIGHT, CIerl( of Circuit C01trt /, Mermn River CountY - by Ati W, G 14 nd the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simple; that the grantor has good right and lawful authority to sell and convey said Land; that the grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever, and that said land is free Of all encumbrances, except taxes accruing subsequent to December 31, 19 84. SUBJECT TO: 1. Restrictions, reservations, limitations, and easements of record if any; this reference to said restrictions shall not affect to reimpose same. 2. Zoning ordinances affecting said property. first �n W[tneSS Whereof, the said grantor has hereunto set theirhand and seal the day and year nfvnnn r- nriffnn a none nlikness I ATE OF l ered i ur presence: i �- -- -- - -- -- -- -•- ---- --- ............ -- vv ------ - - -- -- -- •----- .... - -- u S�: n -- - -- . - - - - -- -• -- - . . - -- atricia A. John I HEREBY CERTIFY that on this day, before me, an officer duly authorized in the State aforesaid and in the County aforesaid to take acknowledgments, personally appeared Luther S. Johnson and Patricia A. Johnson, his wife PP -OVED To Me OA) -t-t}L- I?IOSIS or- Sl�-Tf:sr-rTC-ToRy CviDt =lUCc t..— ...�Qo o-Qo om to be the person S described in and who executed the foregoing instrument and they acknowledged before me that they executed the same. WITNESS my hand and official seal in the County and State last aforesaid this � OZ N D day of Qom/ A. D. 198 '1 ....................... Notary Public My commission expires:3/`//?t Tlris bisinvitient prepared by: OF rti OFFICIAL SEA]1987 Address IDA SIMMO r NOTARY PUBLIC - CA mo PRINCIPAL OFFIC - KERN COUNT MY Commission Exp. M 0— 0 O cz q E.x;. '�, SEBIAI? INC. X16 3 U'S� 1; iii e A4 SEMSTfAN FL �. J U �4 1985 June 19, 1985 n City o-f- ,Sebastian P.O. Box 127 Sebastian, FL 32958 RE: Lot 1, Block 208, Unit 10, Sebastian Highlands Dear Sirs: Enclosed please find your Warranty Deed for the property in reference, as recorded in Official Record Book 0710, Page 0794, Public Records of Indian River County, Florida. Also enclosed please find your First American Title Insurance Owner's Policy #239499 insuring you as to the property in reference, in the amount of $5,000.00. Please keep all of these documents in a safe place. If you decide to increase the value of your property or build on subject property, bring in this policy and we will be happy to give you a discount on your future transaction. Thank you for allowing us to handle this transaction for you and if we can be of any further assistance to you now or in the future please contact our office. Sincerely, en L. Waite Closing Officer :kl-w enclosures FATIC•300 (9 -76) Policy No. FA-0- 239499 S� AMERJ C OWNER'S POLICY OF TITLE INSURANCE ISSUED BY First American Title Insurance Company SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS CONTAINED IN SCHEDULE B AND THE PROVISIONS OF THE CONDITIONS AND STIPULATIONS HEREOF, FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, herein called the Company, insures, as of Effective Date of Policy shown in Schedule A, against loss or damage, not exceeding the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the Company may become obligated to pay hereunder, sustained or incurred by the insured by reason of: Title to the estate or interest described in Schedule A being vested otherwise than as stated therein; 2. Any defect in or lien or encumbrance on such title; 3. Lack of a right of access to and from the land. This Policy shall not be valid or binding until Schedule A has been countersigned by either a duly authorized agent or representative of the Company and Schedule B has been attached hereto. IN WITNESS WHEREOF, First American Title Insurance Company has caused its corporate seal to be hereunto affixed and these presents to be signed in facsimile under authority of its by -laws. First American Title Inswance Company Pa y fl a o By President SEN, R 24, o Attest: g/4&:_ C, Secretar A.L.T.A. OWNER'S POLICY — FORM A — 1970 (AMENDED 5- 10 -74) FATIC -301 (Rev. 9-78) First American Title Insurance Company SCHEDULE A Agent's Policy No. FA -O- 239499 File No.: 85 -987 Issued Pursuant to Commitment No. FA -c- 430795 Date Issued: June 17, 1985 M. Date Effective: June 4, 1985 12 :25 -M. Amount of Insurance: $ 5, 000.00 1. Name of Insured: City of Sebastian, a Municipal Corporation a', I 2. The estate or interest in the land described herein and which is covered by this policy is an estate or interest designated as follows: Fee Simple 3. Title to the estate or interest referred to herein is at the Effective Date of this Policy vested in the insured. 4. The land herein described is encumbered by the following mortgage and assignments, if any: IC POO and the mortgages, if any, shown in Schedule B hereof. 5. The land referred to in this Policy is in the State of Florida County of and is described as follows: Indian River Lot 1, Block 208, of SEBASTIAN HIGHLANDS, Unit 10, a Subdivision according to the Plat thereof, as recorded in Plat Book 6, Pages 37 and 37J, of the Public Records of Indian River County, Florida. EXECUTIVE OF SEBASTIAN, INC. s rt a e lin me o Age t) By: Authorized Signatory Earl D. Witherby m- FATICI 302 (Rev. 9 -78) First American Title Insurance Company SCHEDULE B Agent's 239499 File No.: 85 -987 Policy No. FA -O- This policy does not insure against loss or damage by reason of the following exceptions: General Exceptions: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or in- spection of the premises. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Any adverse claim to any portion of said land which has been created by artificial means or has accreted to any such portion so created and riparian rights, if any. 6. Taxes or special assessments which are not shown as existing liens by the public records. Special Exceptions: 7. The mortgage, if any, referred to in Item 4 of Schedule A. 8. The lien of all taxes for the year 19 85 ,• and all subsequent years. Said taxes are not yet due and payable. 9. Restrictions as recorded in Official Record Book 99, Pages 366 through 371 inclusive, of the Public Records of Indian River County, Florida. 10. Easements for Public Utilities and Drainage over and across the rear 10 feet and the sides 6 feet, per plat, as recorded in Plat Book 6, Pages 37 and 37J, of the Public Records of Indian River County, Florida. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy: 1. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordinance or governmental regulation. 2. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records at Effective Date of Policy. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company and not shown by the public records but known to the insured claimant either at Effective Date of Policy or at the date such claimaint acquired an estate or interest insured by this policy and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Effective Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "insured ": the insured named in Sched- ule A, and, subject to any rights or defenses the Company may have had against the named insured, those who succeed to the interest of such insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant ": an insured claiming loss or damage hereunder. (c) "knowledge ": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of any public records. (d) "land ": the land described, specifically or by reference in Schedule A, and improve- ments affixed thereto which by law constitute real property; provided, however, the term "land" does not include any property beyond the lines of the area specifically described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which 'a right of access to and from the land is insured by this policy. (e) "mortgage ": mortgage, deed of trust, trust deed, or other security instrument. (f) "public records ": those records which by law impart constructive notice of matters relating to said land. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy in favor of an insured so long as such insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or con- veyance of such estate or interest; provided, however, this policy shall not continue in force in favor of any purchaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured. 3. DEFENSE AND PROSECUTION OF AC- TIONS — NOTICE OF CLAIM TO BE GIVEN BY AN INSURED CLAIMANT (a) The Company, at its own cost and with- out undue delay, shall provide for the defense of an insured in all litigation consisting of actions or proceedings commenced against such insured, or a defense interposed against an insured in an action to enforce a contract for a sale of the estate or interest in said land, to the extent that such litigation is founded upon an alleged defect, lien, encumbrance, or other matter insured against by this policy. (b) The insured shall notify the Company promptly in writing (i) in case any action or proceeding is begun or defense is interposed as set forth in (a) above, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as unmarketable. If such prompt notice shall not be given to the Company, then as to such insured all liability of the Company shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case prejudice the rights of any such insured under this policy unless the Company shall be prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and without undue delay prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest as insured, and the Com- pany may take any appropriate action under the terms of this policy, whether or not it shall be liable thereunder, and shall not thereby concede liability or waive any provision of this policy. (d) Whenever the Company shall have brought any action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any such liti- gation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding the insured hereunder shall secure to the Company the right to so prosecute or provide defense in such action or proceeding, and all appeals there- in, and permit the Company to use, at its option, the name of such insured for such purpose. Whenever requested by the Company, such in- sured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining wit- nesses, or prosecuting or defending such action or proceeding, and the Company shall reimburse such insured for any expense so incurred. 4. NOTICE OF LOSS — LIMITATION OF ACTION In addition to the notices required under paragraph 3(b) of these Conditions and Stipula- tions, a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within 90 days after such loss or damage shall have been determined and no right of action shall accrue to an insured claimant until 30 days after such statement shall have been furnished. Failure to furnish such state- ment of loss or damage shall terminate any liability of the Company under this policy as to such loss or damage. 5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS The Company shall have the option to pay or otherwise settle for or in the name of an insured claimant any claim insured against or to terminate all liability and obligations of the Company hereunder by paying or tendering payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred up to the time of such payment or tender of payment by the in- sured claimant and authorized by the Company. 6. DETERMINATION AND PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed the least of: (i) The actual loss of the insured claimant; or (ii) The amount of insurance stated in Schedule A. (b) The Company will pay, in addition to any loss insured against by this policy, all costs imposed upon an insured in litigation carried on by the Company for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorization of the Company. (c) When liability has been definitely fixed in accordance with the conditions of this policy, the loss or damage shall be payable within 30 days thereafter. 7. LIMITATION OF LIABILITY No claim shall arise or be maintainable under this policy (a) if the Company, after having received notice of an alleged defect, lien or encumbrance insured against hereunder, by litigation or otherwise, removes such defect, lien or encumbrance or establishes the title, as insured, within a reasonable time after receipt of such notice; (b) in the event of litigation until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title, as insured, as provided in paragraph 3 hereof; or (c) for liability voluntarily assumed by an in- sured in settling any claim or suit without prior written consent of the Company. 8. REDUCTION OF LIABILITY All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the in- surance pro tanto. No payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Company. 9. LIABILITY NONCUMULATIVE It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring either (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy, or (b) a mortgage hereafter executed by an insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy. The Com- pany shall have the option to apply to the payment of any such mortgages any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner. (Conditions and Stipulations continued and concluded on back page of this Policy) ears (CIO Executive Title of Sebastian, Inc. GG 'p�t�ttttttt �� �ttttt 0 (mitt 0 �� : im BUYERS City of Sebastian SELLERS Luther S. & Patricia A. Johnson ESCROW FILL NO. 85 -987 CLOSING DATE May 31, 1985 LEGAL DESCRIPTION Lot 1, Block BROKER . Witherby Real Estate 208, Unit 10, SEBASTIAN HIGHLANDS CHARGES FOR WATER, RENTS. GAS, ELECTRICITY, TAXES ON PERSONAL PROPERTY OR LICENSE NOT ADJUSTED. THIS COMPANY ASSUMES NO LIABILITY FOR THESE ITEMS. SECTION 1 — EXPENSES PurchasePrice ............................................... ..............................S 5,000.00 RecordingFees ............................................ ............................... 9.00 TitleInsurance ............................................. ............................... State Documentary stamps on Note .......... ............................... Mortgage Escrow Account ........................................................- Prepaid Rcal Estate Tax ............................... ............................... Prepaid 11473rd Insurance Premium ............ ............................... Stirw% ........................................................... ............................:.. SECTION 2 — CREDITS Deposit with Witherby Real Estate Existing Mortgage assumed by Buyer Interest Mortgage to Seller Proceed% of Lean ' Proration of Real Estate Tax 1/1/85 to 5/31/85 @ .217836/dav Proration of Rents In the event that the actual tax bill is different from the figure shown above. Buyer and Seller hereby agree to adjust the dit- terence between themselves. --------------- -- initial Loan No.: Date Next Due: Amt. of Payment: Mail To: TOTAL EXPENSES S 5,009.00 .. .. 32.89 TOTAL CREDITS S 532.89 BALANCE DUE FROM BUYER S 4,476.11 I have read the Ioregolna statement and hereby aPProve Ina SARIS. CITY OF SEBASTIAN By: Jim allagher, Mayor L. Gene Harris, Acting Mayor 1623 North U.S. 111, Sebastian, Florida 32958 ETA 130 305- 589 -0034 FATIC -200 (9 -76) Commitment No. FA - C- 4 3 0 7 9 5 S T A M E R COMMITMENT FOR TITLE INSURANCE ISSUED BY First American Title Insurance Company FIRST AMERICAN TITLE INSURANCE COMPANY, a corporation of California, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six (6) months after the Effective Date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. This Commitment shall not be valid or binding until Schedule A has been countersigned by either a duly authorized agent or representative of the Company and Schedule B -I and B -II have been attached hereto. IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed, to become valid when countersigned by an authorized officer or agent of the Company, all in accord- ance with its By -Laws. This Commitment is effective as of the date shown in Schedule A as "Effective Date ". First American Title Insurance Company e , 24, By: President Ile T : Attest: G• Secretary A.L.T.A. COMMITMENT — 1966 H w H U 0 W e z �w d W � a�. a � R z � U �Q �Z a �z h � Cd W iL LL 0 W f 2 FATIC -201 (Rev. 9 -78) First American Title Insurance Company SCHEDULE A Agent's File No.: 85 -987 Commitment No. FA -C- 430795 Date Issued: May 14, 1985 M. Date Effective: May 2, 1985 M. 2. Policy or Policies to be issued: (a) A. L. T. A. Owner's Policy Form — 1970 Proposed Insured: City of Sebastian, a Municipal Corporation (b) A. L. T. A. Loan Policy - 1970 Proposed Insured: Amount of Policy: $ 5, 000.00 $ 3. The estate or interest in the land described or referred to in this Commitment and covered herein is an estate or interest designated as follows: Fee Simple 4. Title to the estate or interest in the land described or referred to in this Commitment and covered herein (and designated as indicated in No. 3 above) is, at the effective date hereof, vested in: Luther S. Johnson and Patricia A. Johnson, his wife 5. The land referred to in this Commitment is in the State of Florida County of Indian River and described as follows: Lot 1, Block 208, of SEBASTIAN HIGHLANDS, Unit 10, a Subdivision according to the Plat thereof, as recorded in Plat Book 6, Pages 37 and 37J, of the Public Records of Indian River County, Florida. EXECUTIVE—ZI%LE OF SEBASTIAN, INC. ns t ov i ame of Agent) By: ((// Authorized Si natory Earl D. witherby FATIC -202 (Rev. 9 -78) First American Title Insurance Company SCHEDULE B -1 (Requirements) Agent's File No.: 85 -987 Commitment No. FA -C- 430795 The following are the requirements to be complied with: 1. Payment to, or for the account of, the grantors or mortgagors of the full consideration for the estate or interest to be insured. 2. Payment of all taxes, assessments, levied and assessed against subject premises, which are due and payable. 3. Satisfactory evidence shall be produced that all improvements and /or repairs or alterations thereto are completed; that contractor, subcontractor, labor and. materialmen are all paid in full. 4. Instruments in insurable form which must be properly executed, delivered and duly filed for record: (a) Warranty deed from Luther S. Johnson and Patricia A. Johnson, his wife to City of Sebastian, a Municipal Corporation, conveying title to subject property. 5. Affidavit executed by the grantors that there are no claims pending or unpaid which may constitute a lien against subject property. FATIC -203 (Rev. 9 -78) First American Title Insurance Company SCHEDULE B -II (Exceptions) Agent's File No.: 85 -987 Commitment No. FA -C- 430795 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are dis- posed of to the satisfaction of the Company. 1. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of rec- ord the estate or interest or mortgage thereon covered by this Commitment. 2. Any owner's policy issued pursuant hereto will contain under Schedule B the General Exceptions set forth at the in- side cover hereof. Any loan policy will contain under Schedule B General Exceptions 1, 2, 3, and 5 unless a satisfac- tory survey and inspection of the premises is made and will contain General Exceptions 4 and 6. 3. In the event this Commitment is issued with respect to a construction loan to be disbursed in future periodic install- ments, then the policy shall contain an additional exception which shall read as follows: "Pending disbursement of the full proceeds of the loan secured by the mortgage insured, this policy only insures the amount actually disbursed, but increases as proceeds are disbursed in good faith and without knowledge of any intervening lien or interest to or for the account of the mortgagor up to the amount of the policy. Such dis- bursement shall not extend the date of the policy or change any part thereof unless such change is specifically made by written endorsement duly issued on behalf of the Company. Upon request by the insured (and payment of the proper charges therefor,) the Company will search the public records subsequent to the date of the policy and furnish to the insured a continuation report showing such matters affecting title to the land as they have appeared in the public records subsequent to the date of the policy or the date of the last preceeding continuation report, and if such continuation report shows intervening lien, or liens, or interest to or for the account of the mortgagor, then in such event this policy does not increase in liability unless such matters as actually shown on such continuation report are removed from the public records by the insured." 4. All taxes for the year 1985 and all subsequent years. Said taxes are not yet due and payable. 5. Restrictions as recorded in Official Record Book 99, Pages 366 through 371 inclusive, of the Public Records of Indian River County, Florida. 6. Easements for Public Utilities and Drainage over and across the rear 10 feet and the sides 6 feet, per plat, as recorded in Plat Book 6, Pages 37 and 37J, of the Public Records of Indian River County, Florida. STANDARD EXCEPTIONS FOR OWNER'S POLICY The owner's policy will be subject to the mortgage, if any, noted under item one of Item 4 of Schedule B -I hereof and to the following general execptions: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Any adverse claim to any portion of said land which has been created by artificial means or has accreted to any such portion so created and riparian rights, if any. 6. Taxes or special assessments which are not shown as existing liens by the public records. CONDITIONS AND STIPULATIONS The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commit- ment other than those shown in Schedule B -I and Schedule B -II hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim, or other matter, the Company at its option may amend Schedule B -I and /or Schedule B -II of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies com- mitted for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B -I or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions, the Exclusions from Cover- age and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the pro- visions of this Commitment. FLORIDA F.A.R. Standard form No. 15,.1st Ptinflng 2/77 REA R COUNTER OFFER Dated: A. Mk�.IX. UP.... Time: .1e,..AM ................. The offer to purchase the real property located at... J.... ..... VAI'T ................. . . ....................................................................... ........... ................................................................................... madeby .... ........ .................................................................................... dated ....... ................................. ...,is not acceptable in the following respects, with regard to which a counter offer is submitted as follows: Terms riot acceptable: ................................................................................ Counter offer terms: ............................................................................... ..... N.t- 41 ........ .. 1. .. . .... ............................. •........................................ ............. .................................................................... ......................................................... ....................... .......................................................... ............... .............................. ................................................... ............................... ......................................... ................... ......... .................................................... ................................... .......... ................................... ...... ........................................................................... .......... ........................... ......................................... ................... ........ ..................... ............................... ................................... ......................... ... ........... ......... ........... ........ ......................................... I ...................... I................. ...................................... ...................................... .................................................................... ...................................................................... ....................................... .......................................... ........................ ............................... ...................... .................................................................................. ............................................ ..................................... All other terms of the offer are acceptable and, by this reference, are made a part of this counter offer. RIGHT TO ACCEPT OTHER OFFERS: Seller reserves the right to accept any other offer prior to Buyer delivery of acceptance of this offer. EXPIRATION: This counter offer shall expire unless a copy hereof with Buyer's written acceptance is delivered,to seller or his _agent within ....... 4>r ........ * . ...... days from date. '''Y........... Seller Seller A Ac d: Dated: ...... .. ...... .. ... Time: ......... ...... .. ... .... ..... ... ...... .... ...... 11 .. ...... .. .... er . ... ... Buyer CZt�, Receipt of Acc ance acknowledged. Dated: ............................................ Time .......................................... CONTRACT FOR SALE AND PURCHASE PARTIES: - 1 uthe r S • -- �i t Petri GI il611RS6 _ , as "seller ", of 0 C_ /O Far) n Wl thGrlaT —Real c_ � _ (Phone _58� 40p 1. and — City Of Keh ai t i as as "Buyer", of ' cr =-Earl n- With -r.Wit Real Fatah (Phone 5Rg Dnsp ►, hereby autos that the Boller shall sell end Buyer shall buy the following property upon tree following temps anti conglt►ons WMl�lf INCLUDE the $tondard4 For Real Estate Transactions on the reverse hereof or attached hereto, hereinafter referred to so "Stendard(s) ". I, QESCRIPTION: (a) Legal description of real estate ( "Property ") located I County, Florida: I,at 1, B 1 i 4 X04 Unit 10 / Sebastian H i 9h l ands (b) Street address, It any, of the Property being conveyeg Is Ca me r Rosebush Ter race 6 Wkpg C (c) Personal property Ipcluliad: VACANT LAND 4,000.00 i1. PURCHASE PRICE; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . "'► PAYMENT: (a) Diposl!(s) to by held In escrow by In the smooth Of , . . , . • Bob sin 2O.AND assumption of Mortgage In tsygr gt. . bearing interest at _% per annum and payable as to principal find —... --- interest $ per month, having en ipproxlmpte present principal balance of . . . . . i (c) Purchase money mortgage and note bearing Interest at % on terms sat forth herein below, in the principal amount of . .. . . . . .. .. . . . . . . . .. . .. . .. . .. . .. . .. . . . . . . . . . . . . . ..$ - --- Id) Other i (ej psionce to gloss, (U.S. cash, certified or cashier's chock) subject to adjustments and prorstlons .........� TOTAL ... ..4 ,�.... r 1.11. FINANCING: If the purchase price or any part thereof Is to be financed by a third party loan, this Contract for Sale and Purchase, ( "Contract"), Is can- upon the Buyer obtaining a firm commitment for said loan within - -- days from data hereof, at an Interest rats not to exceed - - %; term of — — years; and In the principal amount of 6 — -- Buyer agrees to make application for, and to use reasonable dill- `gsingf, to obtain sold loan. Should Buyer fall to obtain $ame or to waive Buyer's rights hereunder within sold time, Niher party may cancel Contract. IV. TITLE EVIDENCE: Within �� days from date of Contract, Seller shall, at his expense, deliver to Buyer or his attorney, In accordance with 8ttlp4ard A., either (CHECK) ❑(1) or (111) 41) abstract, or (Z) title Insurance commitment with tae owner's title policy premium to be paid by Bailor at closing. V. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this offer Is not executed by both of the parties hereto on Or before _2 the pforesaid deposit(s) shall be, at the option of Buyer, returned to him and this offer shell thereafter be null and void. The date of G tract ( "Effective Dots ") 0,01 be the date when the last one of the Seller and Buyer has signed this offer. VI..,' CLOSING DATE: This transaction shall be closed and the deed and other closing papers gellirered On the day of :l.L:� S•r T_, 1Q , unless extended by other provisions of Contract. VIJ• RESTRICTIONS, EASEMENTS, LIMITATIONS: The Buyer shall take title subject to: Zoning, restrictions, prohibitions and other requirements imposed by :::governmental authority; Restrictions and matters appearing on the plat or otherwise common to the subdivision; Public utility easements of record, (provided sold easements are located contiguous throughout the property lines and are not more then 10 test In width as to the rest or front linos and 71S fast In width as to the shit# Apill, unless otherwise specified herein); Te>fqR fpr year Of closing and oubsoquent years, assumed mortgages and purchase money mortphgie, If any; tlth�r: „prOV,lded, however, that none of the foregoing shall prevent use of the Property for the purpose of Barking for Ball Elaid V111.'; OCCUPANCY: Sailer represents that there are no parties In occupancy other than Seller, but If Property Is Intended to bo rented or occupied beyond closing, the fact and terms thereof shall be stated heroin, and the tenant($) shall be disclosed pursuant to Standard O. Seller &gross to deliver occupancy of Property at time of closing unless otherwise specified below. If occupancy Is to be delivered prior to closing, Buyer assumes ell risk of loo to Property from date Of occu- pancy. shall be responsible and liable for maintenance thereof from sold date, and shell Do doomed to hays accepted the Property, real end personal, in Its existing con Itlon 49 of tlm o t I cc 1 h 1 tad In wrltln .. 3, .1 ,�.J�� B... tlBlpF.yJI.ILtek 8 IM. AS8IGNABILYTY: (CHECK ONE) Buyer may assign [Vmy twrvrlJ` X. TYPEWRITTEN OR HANDWRITTEN PROV161ONS: Typewritten or handwritten provisions Inserted heroin or attsohed hor *to so "Osingr shell ogn1fai III Printed provisions In conflict therewith. X1. INSULATION RIDER: It Contract is used for the ells Of a now refldoncs, the Insvletlon Rider shall be attached hereto artp magls a part hereof. X►1. SPECIAL CLAUSES: THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORI A BAIR Copyright 10$1 by The Florida Bar and the Florida Association of flE pR$ . ------ - - - - -- �q F x tad by Bu on - r- W1TNE to tided t NOT required) • ;� I;RALI. Buy , _... Executed by Sailor o / WITNESSES: (Two recommended but NOT required) y�,�,i •, ;�• .`r.H, +M'a�`: tM�►.+�1 \� ~ \: .(BEAL) (Bailer) (BEAL) Deposit(s) under 11 (a) resolved; H check, subject to clearance. (Seller) toy; (Escrow Agent) BROKERAGE FEE: Senor agrees t,Qay the registered real estate Broker named below, at time of ciosing, from the disbursements of the proceeds of sale, coma i pens&tlon In the amount of Y % of gross purchase price or i ----- , for his services In affecting the sole by finding a Buyer, ready, willing and able to purchase pursuant to the foregoing Contract. In the event Buyer falls to perform and deposit(s) Is retained, BO% thereof, but not exceeding the Broker's too above computed, shall be paid to the Broker, as full consideration for Broker's services Including costs expanded by Broker, and the balance shall be paid to Sailer. It the transectlon shall not be closed bacause of refuel or failure of Stellar to perform, the Sailer aholl pay said ho In full to Broker on demand. Egri Witherbv Real Estate (SEAL► (BEAL) (Name of Broker) (Seller) (SEAL) REV.: 3/81 (Seller) CONTRACT FOR SALE AND PURCHASE ( �J t Pat ri ei a dehnsen f'�" as "Seller ", PARTIES: ,the r S �- - of 1 c1lo Earl n Wither-by -- Real —Estate (Phone" CAQ nnrQ ), and C i t; of Sebastian as "Buyer", of c/o Par] D Wi tharbv Real Estate (Phone sag 0050_ ), hereby agree that the Seller shall sell and Buyer shall buy the following property upon the following terms and conditions WHICH INCLUDE the Standards For Real Estate Transactions on the reverse hereof or attached hereto, hereinafter referred to as "Standard(s) ". I. DESCRIPTION: (a) Legal description of real estate ( "Property ") located in Indian R i Ve r County, Florida: Lot 1 Block 208 Unit 10 / Sebastian Highlands (b) Street address, if any, of the Property being conveyed is Corner Rosebush Terrace E Barber St. (c) Personal property included: VACANT LAND /!4�^,�^0�^ 0�^0�^.� 0 0 Il. PURCHASE PRICE: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ PAYMENT: (a) Deposit(s) to be held in escrow by Earl Q Wi therby Reai Es tatp in the amount of . .$ (b) (c) Subject to AND assumption of Mortgage in favor of bearing interest at % per annum and payable as to principal and interest $ per month, having an approximate present principal balance of . . . . . $ Purchase money mortgage and note bearing interest at % on terms set forth herein below in the principal amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ (d) Other $ (e) Balance to close, (U.S. cash, certified or cashier's check) subject to adjustments and prorations . . . . . . . . .$ TOTAL .....$ 4,000 .0 III. FINANCING: If the purchase price or any part thereof is to be financed by a third party loan, this Contract for Sale and Purchase, ( "Contract "), is con- ditioned upon the Buyer obtaining a firm commitment for said loan within - -- days from date hereof, at an interest rate not to exceed —AG; term of --- years; and in the principal amount of $ - - -- Buyer agrees to make application for, and to use reasonable dili- gence to obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, either party may cancel Contract. I IV. TITLE EVIDENCE: Within 1 5 days from date of Contract, Seller shall, at his expense, deliver to Buyer or his attorney, in accordance with Standard A., either (CHECK) 0 (1) or CR(2) k41) abstract, or (2) title insurance commitment with fee owner's title policy premium to be paid by Seller at closing. V. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this offer is not executed by both of the parties hereto on or before the aforesaid deposit(s) shall be, at the option of Buyer, returned to him and this offer shall thereafter be null and void. The date of C tract ( "Effective Date ") shall be the date when the last one of the Seller and Buyer has signed this offer. VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the day of 19 K6_ , unless extended by other provisions of Contract. VII. RESTRICTIONS, EASEMENTS, LIMITATIONS: The Buyer shall take title subject to: Zoning, restrictions, prohibitions and other requirements imposed by governmental authority; Restrictions and matters appearing on the plat or otherwise common to the subdivision; Public utility easements of record, (provided said easements are located contiguous throughout the property lines and are not more than 10 feet in width as to the rear or front lines and 7% feet in width as to the side lines, unless otherwise specified herein); Taxes for year of closing and subsequent years, assumed mortgages and purchase money mortgages, if any; other: provided, however, that none of the foregoing shall prevent use of the Property for the purpose of Pa rk i nTfor Rail E i e 1 d Vill. OCCUPANCY: Seller represents that there are no parties in occupancy other than Seller, but if Property is intended to be rented or occupied beyond closing, the fact and terms thereof shall be stated herein, and the tenant(s) shall be disclosed pursuant to Standard G. Seller agrees to deliver occupancy of Property at time of closing unless otherwise specified below. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property from date of occu- pancy, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted the Property, real and personal, in its existing condition as of time of taking occupancy unless otherwise noted in writing. IX. ASSIGNABILITY: (CHECK ONE) Buyer ❑may assign ® may not assign, Contract. X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control all printed provisions in conflict therewith. XI. INSULATION RIDER: If Contract is used for the sale of a new residence, the Insulation Rider shall be attached hereto and made a part hereof. X11. SPECIAL CLAUSES: THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA -BA �i Copyright 1981 by The Florida Bar and the Florida Association of RE TORS . " Ex ted by Bu on WITNE S: (Two reco nded t NOT required) / (SEA.0 Buye 14 gecl � `j�SE A LS Executed by Seller o WITNESSES: (Two recommended but NOT required) Deposit(s) under II (a) received; if check, subject to clearance. By; (Escrow Agent) (Seller) (Seller) (SEAL) (SEAL) BROKERAGE FEE: Seller agrees to pay the registered real estate Broker named below, at time of closing, from the disbursements of the proceeds of sale, com- pensation in the amount of 1 % of gross purchase price or $ — --- , for his services in effecting the sale by finding a Buyer, ready, willing and able to purchase pursuant to the foregoing Contract. In the event Buyer falls to perform and deposit(s) is retained, 50% thereof, but not exceeding the Broker's fee above computed, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall be paid to Seller. If the transaction shall not be closed because of refusal or failure of Seller to perform, the Seller shall pay said fee in full to Broker on demand. Earl D. Witherby Real Estate (SEAL) (Name of Broker) REV.: 3/81 (Seller) (Seller) (SEAL) (SEAL) STANDARDS FOR REAL ESTATE TRANSACTIONS A. EVIDENCE OF TITLE: © An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting the title to subject Property recorded in the public records of the county where- in the Property is situated, through Effective Date. An abstract shall commence with the earliest public records, or such later date as may be customary in the county wherein the Property is situated. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in this Con- tract and those which shall be discharged by Seller at or before closing. Marketable title shall be determined in accordance with applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. I„Jpon closing of this transaction such abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid; or L�J a title insurance commitment issued by a qualified title insuror agreeing to issue to Buyer, upon recording of the deed to Buyer, an Owner's policy of title insurance in the amount of the purchase price, insuring title of the Buyer to the Property, subject only to liens, encumbrances, exceptions or qualifications set forth in this Contract and those which shall be discharged by Seller at or before closing..Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine same. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If said defect(s) render title unmarketable, Seller shall have 120 days from receipt of notice within which to remove said defect(s), and if Seller is unsuccessful in removing them within said time, Buyer shall have the option of either (1) accepting the title as it then is, or (2) demanding a refund of all monies paid hereunder which shall forthwith be returned to Buyer and thereupon Buyer and Seller shall be released, as to one another, of all further obligations under the Contract; however, Seller agrees that he will, if title is found to be unmarketable, use diligent effort to correct the defect(s) in title within the time provided therefor, including the bringing of necessary suits. B. EXISTING MORTGAGES: Seller shall furnish a statement from the mortgagee(s) setting forth principal balance, method of payment, interest rate and whether the mortgage(s) is in good standing. If a mortgage requires approval of the Buyer by the mortgagee in order to avoid default, or for assumption by the Buyer of said mortgage, and © the mortgagee does not approve the Buyer, the Buyer may rescind the Contract, or © requires an increase in the interest rate or charges a fee for any reason in excess of $100.00, the Buyer may rescind the Contract unless Seller elects to pay such increase or excess. Seller and Buyer shall each pay 50% of such fee. Buyer shall use reasonable diligence to obtain approval. The amount of any escrow deposits held by mortgagee shali be credited to Seller. C. PURCHASE MONEY MORTGAGES: The purchase money note and mortgage, if any, shall provide for a 30 day grace period -in the event of default if it is a first mortgage and a 15 day grace period if a second mortgage; shall provide for right of prepayment in whole or in part without penalty; shall not provide for acceleration or interest adjustment in event of resale of the Property; and shall be otherwise in form and content required bv- Seller'sattorney; provided, however, Seller may only require clauses customarily found in mortgages and mortgage notes generally utilized by savings and loan institutions in the county - wherein the Property is located. Said mortgage shall require the owner of the encumbered Property to keep all prior liens and en�umprances in good standini�and-forbid the owner of the Property from accepting modifications of or future advances under prior mortgage(s). All personal prat ertt% ing conveyed will, at e06_n -of Seller, be subject to the lien of the mortgage and evidenced by recorded Financing Statements. D. SURVEY: The Buyer, within time allowed for delivery of evidence of title and examination thereof, may ha� the Property surveyed at his- egar`we. If the survey, certified by a registered Florida surveyor, shows any encroachment of said Property or that improvement0nt6ded to be located on the Property in fact encroach on lands of others, or violate any of the Contract covenants, the same shall be treated as a title defect.- E. TERMITES: the Buyer, within time allowed --for delivery of evidence of title and examination tb.erecif, -or no later[ than 10 days pritik to cfosing,;Mriicbaver.date occurs last, may have the improvements inspected at Buyer's expense by a Certified PestCoAtrol Operator t deterMyine'Whether there is any viSIMae��iCtI4 termite infestation or visible existing damage from termite infestation in the improvements. If Buyer is informed of either oCpgSb of the foregoing, Buyer wiLl have 4 days from date of written notice thereof or 2 days after selection of a contractor, whichever occurs first, within which tCLhavR all damages, whether vigble,or not, in- spected and estimated by a licensed building or general contractor. Seller shall pay valid costs of treatment and repaii-tif -all, damage up to b'1:% of Purchase Price. Should such costs exceed that amount, Buyer shall have the option of cancelling Contract within 5 days after receimof ccpntractor's`r`epalr estimate by giving written notice to Seller, or Buyer may elect to proceed with the transaction, in which event Buyer shall receive a credit- at- closing of an amount equal to 1Y2% of said Purchase Price. "Termites" shall be deemed to include all wood destroying organisms required to be reported under the Florida Pest Control Act. F. INGRESS AND EGRESS: Seller warrants that there is ingress and egress to the Property sufficient for the intended use as described in Paragraph VII hereof the title to which is in accordance with Standard A. G. LEASES: Seller shall, not less than 15 days prior to closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature and duration of said tenant's occupancy, rental rates and advanced rent and security deposits paid by tenant. In the event Seller is unable to obtain such letter from each tenant, the same information shall be furnished by Seiler to Buyer within said time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenants to confirm such information. Seller shall deliver and assign all original leases to Buyer at closing. H. LIENS: Seller shall, both as to the Property and personalty being sold hereunder, furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improve- ments to the Property for 90 days immediately preceding date of closing. if the Property has been improved within said time, Seller shall deliver releases or waivers of all mechanic's liens, executed by general contractors, subcontractors, suppliers, and materialmen, in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further reciting that in fact all bills for work to the Property which could serve as a basis for a mechanic's lien have been paid or will be paid at closing. I. PLACE OF CLOSING: Closing shall be held in county wherein Property is located, at the office of attorney or other closing agent designated by Seller. J. TIME: Time is of the essence of this Contract. Any reference herein to time periods of less than 6 days shall in the computation thereof exclude Saturdays, Sun- days and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next full business day. K. DOCUMENTS FOR CLOSING: Seller shall furnish deed, mechanic's lien affidavit, assignments of leases, and any corrective instruments that may be required in connection with perfecting the title. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement, and financing statements. L. EXPENSES: State documentary stamps which are required to be affixed to the instrument of conveyance, intangible tax on and recording of purchase money mortgage to Seller, and cost of recording any corrective instruments shall be paid by Seller. Documentary stamps to be affixed to the note or notes secured by the purchase money mortgage, cost of recording the deed and financing statements shall be paid by Buyer. M. PRORATION OF TAXES (REAL AND PERSONAL): Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount and homestead or other exemptions if allowed for said year. If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment, and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax; provided, however, if there are completed improvements on the Property by January 1st of year of closing, which improvements were not in existence on January 1 st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration homestead exemption, if any. However, any tax proration based on an estimate may at request of either party to the transaction be subsequently readjusted upon receipt of tax bill on condition that a statement to that effect is set forth in the closing statement. N. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (and not as of Effective Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer, provided, however, that where the improvement has been substantially completed as of the Effective Date, such pending lien shall be considered as certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate by the public body, of the assessment for the improvement. O. PERSONAL PROPERTY INSPECTION, REPAIR: Seller warrants that all major appliances, heating, cooling, electrical, plumbing systems, and machinery are in working condition as of 6 days prior to closing. Buyer may, at his expense, have inspections made of said items by licensed parsons dealing in the repair and main- tenance thereof, and shall report in writing to Seller such items as found not in working condition prior to taking of possession thereof, or 6 days prior to closing, whichever is first. Unless Buyer reports failures within said period, he shall be deemed to have waived Seller's warranty as to failures not reported. Valid reported failures shall be corrected at Seller's cost with funds therefor escrowed at closing. Seller agrees to provide access for inspection upon reasonable notice. P. RISK OF LOSS: If the improvements are damaged by fire or other casualty prior to closing, and costs of restoring same does not exceed 3% of the Assessed Valuation of the improvements so damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms of ontract witT i� therefor escrowed at closing. In the event the cost of repair or restoration exceeds 3% of the assessed valuation of the improvements so damaged, Buyer shall have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds payable by virtue of such loss or damage, or of cancelling Contract and receiving return of deposit(s) made hereunder. Q. MAINTENANCE: Notwithstanding the provisions of Standard O., between Effective Date and closing date, personal property referred to in Standard O, and real property, including lawn, shrubbery and pool, if any, shall be maintained by Seller in the condition they existed as of Effective Date, ordinary wear and tear excepted, and Buyer or Buyer's designee will be permitted access for inspection prior to closing in order to confirm compliance with this Standard. R. PROCEEDS OF SALE AND CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds and evidence of title continued at- Buyer's expense, to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence, and the cash pro- ceeds of sale shall be held in escrow by Seller's attorney or by such other escrow agent as may be mutually agreed upon for a period of not longer than 5 days from and after closing date. If Seller's title is rendered unmarketable, Buyer shall within said 5 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt of such notification to cure said defect. I n the event Seller fails to timely cure said defect, all monies paid hereunder shall, upon written demand therefor and within 5 days thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacate the Property and recon- vey same to the Seller by special warranty deed. In the event Buyer fails to make timely demand for refund, he shall take title as is, waiving all rights against Seller as to such intervening defect except as may be available to Buyer by virtue of warranties, if any, contained in deed. In the event a portion of the purchase price is to be derived from institutional financing or refinancing, the requirements of the lending institution as to place, time of day and procedures for clos- ing, and for disbursement of mortgage proceeds, shall control, anything in this Contract to the contrary notwithstanding. Provided, however, that the Seller shall have the right to require from such lending institution at closing a commitment that it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer- mortgagor. The escrow and closing procedure required by this Standard may be waived in the event the attorney, title agent or closing agent insures against adverse matters pursuant to Section 627.7841, F.S. as amended. S. ESCROW: Any escrow agent receiving funds is authorized and agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in accordance with terms and conditions of Contract. Failure of clearance of funds shall not excuse performance by the Buyer. In the event of doubt as to his duties or liabilities under the provisions of this Contract, the escrow agent may in his sole discretion, continue to hold the monies which are the subject of this escrow until the parties mutually agree to the disbursement thereof, or until a judgment of a court of competent jurisdiction shall determine the rights of the parties thereto, or he may deposit all the monies then held pursuant to this Contract with the Clerk of the Circuit Court of the County having jurisdiction of the dispute, and upon notifying all parties concerned of such action, all liability on the part of the escrow agent shall fully terminate, except to the extent of accounting for any monies theretofore delivered out of escrow. If a licensed real estate broker, the escrowee will comply with provisions of Section 475.25 (1) (c), F.S., as amended. In the event of any suit between Buyer and Seller wherein the escrow agent is made a party by virtue of acting as such escrow agent hereunder, or in the event of any suit wherein escrow agent interpleads the subject matter of this escrow, the escrow agent shall be entitled to< recover a reasonable attorney's fee and costs incurred, said fees and costs to be charged and assessed as court costs in favor of the prevailing party. All parties agree that the escrow agent shall not be liable to any party or person whomsoever for misdelivery to Buyer or Seller of monies subject to this escrow, unless such misdeiivery shall be due to willful breach of this Contract or gross negligence on the part of the escrow agent. ----T. ATTORNEY FEES AND COSTS: In connection with any litigation including appellate proceedings arising out of this Contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. U. DEFAULT: If Buyer fails to perform this Contract within the time specified, the deposit(s) paid by the Buyer aforesaid may be retained by or for the account of Seller as liquidated damages, consideration for the execution of this Contract and in full settlement of any claims; whereupon all parties shall be relieved of all obligations under the Contract; or Seller, at his option, may proceed at law or in equity to enforce his legal rights under this Contract. If, for any reason other than failure of Seller to render his title marketable after dilligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific per- formance or elect to receive the return of his deposit(s) without thereby waiving any action for damages resulting from Seller's breach. V. CONTRACT NOT RECORDABLE, PERSONS BOUND AND NOTICE: Neither this Contract nor any notice thereof shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties hereto and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for either party shall be as effective as if given by or to said party. W. PRORATIONS AND INSURANCE: Taxes, assessments, rent, interest, insurance and other expenses and revenue of the Property shall be prorated as of date of closing. Buyer shall have the option of taking over any existing policies of insurance on the Property, if assumable, in which event premiums shall be prorated. The cash at closing shall be increased or decreased as may be required by said prorations. All references in Contract to prorations as of date of closing will be deemed ' ,4ate of occupancy" if occupancy occurs prior to closing, unless otherwise provided for herein. X. CONVEYANCE: Seller shall convey title to the Property by statutory warranty deed subject only to matters contained in Paragraph V11 hereof and those other- wise accepted by, Buyer. Personal property shall, at the request of Buyer, be conveyed by an absolute bill of sale with warranty of title, subject to such liens as may be otherw se provided for herein. ,Y. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon any of the parties hereto unless incorporated in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in writing, executed by the parties to be bound thereby. STANDARDS FOR REAL ESTATE TRANSACTIONS A. EVIDENCE OF TITLE: m An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified.as correct by an existing firrn) purporting-to be an accurate synopsis of the instruments affecting the title to subject Property recorded in the public records of the county where- in the Property' is situated, through Effective Date. An abstract shall commence with the earliest public records, or such later date as may be customary in the county wherein the Property is situated. Seller shall convey a marketable title subject only to liens, encumbrances, exceptions or qualifications set forth in this Con- tract and those which shall be discharged by Seller at or before closing. Marketable title shall be determined in accordance with applicable Title Standards adopted by authority of The Florida Bar and in accordance with law. upon closing of this transaction such abstract shall become the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid; or L a title insurance commitment issued by a qualified title insuror agreeing to issue to Buyer, upon recording of the deed to Buyer, an Owner's policy of title insurance in the amount of the purchase price, insuring title of the Buyer to the Property, subject only to liens, encumbrances, exceptions or qualifications set forth in this Contract and those which shall be discharged by Seller at or before closing. Buyer shall have 30 days, if abstract, or 5 days, if title commitment, from date of receiving evidence of title to examine same. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying defect(s). If said defect(s) render title unmarketable, Seller shall have 120 days from receipt of notice within which to remove,said defect(s), and if Seller is unsuccessful in removing them within said time, Buyer shall have the option of either (1) accepting the title as it then is, or (2) demanding a refund of all monies paid,hereunder which shall forthwith be returned to Buyer and thereupon Buyer and Seller shall be released, as to one another, of all further obligations under the Contract; however, Seller agrees that he will, if title is found to be unmarketable, use diligent effort to correct the defect(s) in title within the time provided therefor, including the bringing of necessary suits. B. EXISTING MORTGAGES: Seller shall furnish a statement from the mortgagee(s) setting forth principal balance, method of payment, interest rate and whether the mortgage(s) is in good standing. If a mortgage requires approval of the Buyer by the mortgagee in order to avoid default, or for assumption by the Buyer of said mortgage, and © the mortgagee does not approve the Buyer, the Buyer may rescind the Contract, or © requires an increase in the interest rate or charges a fee for any reason in excess of $100.00, the Buyer may rescind the Contract unless Seller elects to pay such increase or excess. Seller and Buyer shall each pay 50% of such fee. Buyer shall use reasonable diligence to obtain approval. The amount of any escrow deposits held by mortgagee shali be credited to Seller. C. PURCHASE MONEY MORTGAGES: The purchase money note and mortgage, if any, shall provide for a 30 day grace period in the event of default if it is a first mortgage and a 15 day grace period if a second mortgage; shall provide for right of prepayment in whole or in part without penalty,;- shall,nyt- provide for acceleration or interest adjustment in event of resale of the Property; and shall be otherwise in form and content required by Seller's attorney; providdd',,however, Seller may only require clauses customarily found in mortgages and mortgage notes generally utilized by savings and loan institutions in the county wherein the Property is located. Said mortgage shall require the owner of the encumbered Property to keep all prior liens and encumbrances in good standing and forbid the owner of the Property from accepting modifications of or future advances under prior mortgage(s). All personal property being'conveyed will, at option of S&4,er, be subject to the lien of the mortgage and evidenced by recorded Financing Statements. D. SURVEY: The Buyer, within time allowed for delivery of evidence of title and examination thereof, may have the Property surveyed zriWs expeno:-If_the survey, certified by a registered Florida surveyor, shows any encroachment of said Property or that improvements intended. to betlocated on the Property_ intact encroach on lands of others, or violate any of the Contract covenants, the same shall be treated as a title defect. E. T'EfNITE);': The Buyer, within tim'b allowed for delivery of evidence of title and examination thereof, or no later than 1-0 d"sbprior to closing, whichevern ate occurs last, may have the improvements inspected at Buyer's expense by a Certified Pest Control Operator to determine'Whather there issany;y slble active ier?lite- infestation or visible existing damage from termite infestation in the improvements. If Buyer is informed of either or both oftl� foregoing, Buyer will have-4-days from date of written notice thereof or 2 days after selection of a contractor, whichever occurs first, within which to have -ll damages, whet-hw. visible or-not, in- spected and estimated by a licensed building or general contractor. Seller shall pay valid costs of treatment and repair ofeallZarriage-yp to 11/2% -of Purchase Pr ice. Should such costs exceed that amount, Buyer shall have the option of cancelling Contract within 5 days after receipt of contreetor's repair estimate y 9 ving written notice to Seller, or Buyer may elect to proceed with the transaction, in which event Buyer shall receive a credit at closing of an 'amauntequal to 1%,% of said Purchase Price. "Termites" shall be deemed to include all wood destroying organisms required to be reported under the Florida Pest Centrol Act. F. INGRESS AND EGRESS: Seiler warrants that there is ingress and egress to the Property sufficient for the intended use as descrlbed in Paragraph VII hereof the title to which is in accordance with Standard A. G. LEASES: Seller shall, not less than 15 days prior to closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature and duration of said tenant's occupancy, rental rates and advanced rent and security deposits paid by tenant. In the event Seller is unable to obtain such letter from each tenant, the same information shall be furnished by Seller to Buyer within said time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenants to confirm such information. Seiler shall deliver and assign all original leases to Buyer at closing. H. LIENS: Seller shall, both as to the Property and personalty being sold hereunder, furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien or potential lienors known to Seller and further attesting that there have been no improve- ments to the Property for 90 days immediately preceding date of closing. If the Property has been improved within said time, Seller shall deliver releases or waivers of all mechanic's liens, executed by general contractors, subcontractors, suppliers, and materialmen, in addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further reciting that in fact all bills for work to the Property which could serve as a basis for a mechanic's lien have been paid or will be paid at closing. 1. PLACE OF CLOSING: Closing shall be held in county wherein Property is located, at the office of attorney or other closing agent designated by Seller. J. TIME: Time is of the essence of this Contract. Any reference herein to time periods of less than 6 days shall in the computation thereof exclude Saturdays, Sun- days and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next full business day. K. DOCUMENTS FOR CLOSING: Seller shall furnish deed, mechanic's lien affidavit, assignments of leases, and any corrective instruments that may be required in connection with perfecting the title. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement, and financing statements. L. EXPENSES: State documentary stamps which are required to be affixed to the instrument of conveyance, intangible tax on and recording of purchase money mortgage to Seller, and cost of recording any corrective instruments shall be paid by Seller. Documentary stamps to be affixed to the note or notes secured by the purchase money mortgage, cost of recording the deed and financing statements shall be paid by Buyer. M. PRORATION OF TAXES (REAL AND PERSONAL): Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount and homestead or other exemptions if allowed for said year. If closing occurs at date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment, and the prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax; provided, however, if there are completed improvements on the Property by January 1st of year of closing, which improvements were not in existence on January 1 st of the prior year, then taxes shall be prorated based upon the prior year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration homestead exemption, if any. However, any tax proration based on an estimate may at request of either party to the transaction be subsequently readjusted upon receipt of tax bill on condition that a statement to that effect is set forth in the closing statement. N. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (and not as of Effective Date) are to be paid by Seller. Pending liens as of date of closing shall be assumed by Buyer, provided, however, that where the improvement has been substantially completed as of the Effective Date, such pending lien shall be considered as certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate by the public body, of the assessment for the improvement. O. PERSONAL PROPERTY INSPECTION, REPAIR: Seller warrants that all major appliances, heating, cooling, electrical, plumbing systems,.and machinery are in working condition as of 6 days prior to closing. Buyer may, at his expense, have inspections made of said items by licensed persons dealing in the repair and main- tenance thereof, and shall report in writing to Seller such items as found not in working condition prior to taking of possession thereof, or 6 days prior to closing, whichever is first. Unless Buyer reports failures within said period, he shall be deemed to have waived Seller's warranty as to failures not reported. Valid reported failures shall be corrected at Seller's cost with funds therefor escrowedcat closing. Seller agrees to provide access for inspection upon reasonable. notice. P. RISK OF LOSS: If the improvements are damaged by fire or other casualty prior to closing, and costs of restoring same does not exceed 3% of the Assessed Valuation of the improvements so damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms of ontract wit cost therefor escrowed at closing. In the event the cost of repair or restoration exceeds 3% of the assessed valuation of the improvements so damaged, Buyer shall have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds payable by virtue of such loss or damage, or of cancelling Contract and receiving return of deposit(s) made hereunder. Q. MAINTENANCE: Notwithstanding the provisions of Standard O., between Effective Date and closing date, personal property referred to in Standard O. and real property, including lawn, shrubbery and pool, if any, shall be maintained by Seller in the condition they existed as of Effective Date, ordinary wear and tear excepted, and Buyer or Buyer's designee will be permitted access for inspection prior to closing in order to confirm compliance with this Standard. R. PROCEEDS OF SALE AND CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds and evidence of title continued at Buyer's expense, to show title in Buyer, without any encumbrances or change which would render Seller's title unmarketable from the date of the last evidence,' and the cash pro- ceeds of sale shall be held in escrow by Seller's attorney or by such other escrow agent as may be mutually agreed upon for a period of not longer than 5 days from and after closing date. If Seller's title is rendered unmarketable, Buyer shall within said 5 day period, notify Seller in writing of the defect and Seller shall; have 30 days from date of receipt of such notification to cure said defect. In the event Seller fails to timely cure said defect, all monies paid hereunder shall, upon written demand therefor and within 5 days thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacate the Property and recon- . vey same to the Seller by special warranty deed. In the event Buyer fails to make timely demand for refund, he shall take title as is, waiving all rights against Seller as to such intervening defect except as may be available to Buyer by virtue of warranties, if any, contained in deed. In the event a portion of the purchase price is to be derived from institutional financing or refinancing, the requirements of the lending institution as to place, time of day and procedures for clos- ing, and for disbursement of mortgage proceeds, shall control, anything in this Contract to the contrary notwithstanding. Provided, however, that the Seller shall have the right to require from such lending institution at closing a commitment that it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer- mortgagor. The escrow and closing procedure required by this Standard may be waived in the event the attorney, title agent or closing agent insures against adverse matters pursuant to Section 627.7841, F.S. as amended. S. ESCROW: Any escrow agent receiving funds is authorized and agrees by acceptancg thereof to,promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in accordance with terms and conditions of Contract` Failure of clearance of funds shall not excuse performance by the Buyer. In the event of doubt as to his duties or liabilities under the provisions of this Contract, the escrow agent may in his sole discretion, continue to hold the monies which are the subject of this escrow until the parties mutually agree to the disbursement thereof, or until a judgment of a court of competent jurisdiction shall determine the rights of the parties thereto, or he may deposit all the monies then held pursuant to this Contract with the Clerk of the Circuit Court of the County having jurisdiction of the dispute, and upon notifying all parties concerned of such action, all liability on the part of the escrow agent shall fully terminate, except to the extent of accounting for any monies theretofore delivered out of escrow. If a licensed real estate broker, the escrowee will comply with provisions of Section 475.25 (1) (c), F.S., as amended. In the event of any suit between Buyer and Seller wherein the escrow agent is made a party by virtue of acting as such escrow agent hereunder, or in the event of any suit wherein escrow agent interpleads the subject matter of this escrow, the escrow agent shall be entitled to recover a reasonable attorney's fee and costs incurred, said fees and costs to be charged and assessed as court costs in favor of the prevailing party. All parties agree that the escrow agent shall not be liable to any party or person whomsoever for misdelivery to Buyer or Seller of monies subject to this escrow,_unless such misdelivery shall be due to willful breach of this Contract or gross negligence on the part of the escrow agent. T: AST- OFINEY FEES AND COSTS: In connection with any litigation including appellate proceedings arising out of this Contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. U. DEFAULT: If Buyer fails to perform this Contract within the time specified, the deposit(s) paid by the Buyer aforesaid may be retained by or for the account of Seller as liquidated damages, consideration fot the ,execution of;this Contract and in,full settlement of any claims; whereupon all parties shall be relieved of all obligations under the Contract; or Seller, at his option, may proceed at law or in equity to enforce his legal rights under this Contract. If, for any reason other than failure of Seller to render his title marketable after dilligent effort, Seller fails, neglects or refuses to perform this Contract, the Buyer may seek specific par - formance or elect to receive the return of his deposit(s) without thereby waiving any action for damages resulting from Seller's breach. V. CONTRACT NOT RECORDABLE, PERSONS BOUND AND NOTICE: Neither this Contract nor any notice thereof shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties hereto and their successors in interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice given by or to the attorney for either party shall be as effective as if given by or to said party. W. PRORATIONS AND INSURANCE: Taxes, assessments, rent, interest, insurance and other expenses and revenue of the Property shall be prorated as of date of closing: Buyer shall have the option of taking over any existing policies.of insurance on the Property, if assumable, in which event premiums shall be prorated. The cash at closing shall be increased or decreased as may be required by saidprorations. All references in Contract to prorations as of date of closing will be deemed '%,date of occupancy" if occupancy occurs prior to closing, unless otherwise provided for herein. X. CONVEYANCE: Seller shall convey title to the Property by statutory warranty dead subject only to matters contained in Paragraph VII hereof and those other- wise accepted by, Buyer. Personal property shall, at the request of Buyer, be conveyed by an absolute bill of sale with warranty of title, subject to such liens as may be otherwise provided for herein. Y. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon any of the parties hereto unless incorporated in this Contract. No modification or change in this Contract shall be valid or binding upon the parties unless in writing, executed by the parties to be bound thereby. CONTRACT FOR SALE AND PURCHASE PARTIES: Luther S. & Patricia .lohnson ,as "seller" s ( 589 0050 ) of Y c/o Earl D. Wi tharhv Real Estate Phone and a City of Sebastian as "Buyer" of 171 tar( I) _ WI therhy KAFII 1--5 tare (Phone jay UU'2U ), hereby agree that the Seller shall sell and Buyer shall buy the following property upon the following terms and conditions WHICH INCLUDE the Standards For Real Estate Transactions on the reverse hereof or attached hereto, hereinafter referred to as "Standard(.) ". 1. DESCRIPTION: (a) Legal description of real estate ( "Property ") located in I nd i nn R 1 V ?. r County, Florida: Lot 1 Block 208 Unit 10 / Sebastian Highlands (b) Street address, if any, of the Property being conveyed is (c) Personal property included: rner Rosebush Terrace & Barber-St. VACANT LAND 4,000.00 II. PURCHASE PRICE: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ PAYMENT: (a) Deposit(s) to be held in escrow by Earl D. Witherby Real Estate in the amount of . . . . .$ (b) Subject to AND assumption of Mortgage in favor of bearing interest at % per annum and payable as to principal and - - - - -- interest $ per month, having an approximate present principal balance of . . . . . $ (c) Purchase money mortgage and note bearing interest at % on terms set forth herein below, in the principal amount of . . . . . . . . . . . . . . . . . . .. . .. . . . . . . . . . . . . . .. . . . . . . . . . . . . . .$ -- -- -- (d) Other $ (e) Balance to close, (U.S. cash, certified or cashier's check) subject to adjustments and prorations . . .. . . . . .$ 0 /_nnn nn 4, 00 • 0 TOTAL .$ ��� III. FINANCING: If the purchase price or any part thereof is to be financed by a third party loan, this Contract for Sale and Purchase, ( "Contract "), is con- ditioned upon the Buyer obtaining a firm commitment for said loan within days from date hereof, at an interest rate not to exceed - - %; term of --- years; and in the principal amount of $ -- -- Buyer agrees to make application for, and to use reasonable dili- gence to obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, either party may cancel Contract. IV. TITLE EVIDENCE: Within 15 days from date of Contract, Seller shall, at his expense, deliver to Buyer or his attorney, in accordance with Standard A., either (CHECK) 0(1) or CX(2):=k1) abstract, or (2) title insurance commitmentwith fee owner's title policy premium to be paid by Seller at closing. V. TIME FOR ACCEPTANCE AND EFFECTIVE DATE: If this offer is not executed by both of the parties hereto on or before the aforesaid deposit(s) shall be, at the option of Buyer, returned to him and this offer shall thereafter be null and void. The date of Contract ( "Effective Date ") shall be the date when the last one of the Seller and Buyer has signed this offer. V1. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on the day of 19 , unless extended by other provisions of Contract. VII. RESTRICTIONS, EASEMENTS, LIMITATIONS: The Buyer shall take title subject to: Zoning, restrictions, prohibitions and other requirements imposed by governmental authority; Restrictions and matters appearing on the plat or otherwise common to the subdivision; Public utility easements of record, (provided said easements are located contiguous throughout the property lines and are not more than 10 feet in width as to the rear or front lines and 7%a feet In width as to the side lines, unless otherwise specified herein); Taxes for year of closing and subsequent years, assumed mortgages and purchase money mortgages, if any; other: provided, however, that none of the foregoing shall prevent use of the Property for the purpose of Parking t� o r Ra 1 1 F i e I r1 Vill. OCCUPANCY: Seller represents that there are no parties in occupancy other than Seller, but if Property is intended to be rented or occupied beyond closing, the fact and terms thereof shall be stated herein, and the tenant($) shall be disclosed pursuant to Standard G. Seller agrees to deliver occupancy of Property at time of closing unless otherwise specified below. If occupancy is to be delivered prior to closing, Buyer assumes all risk of loss to Property from date of occu- pancy, shall be responsible and liable for maintenance thereof from said date, and shall be deemed to have accepted the Property, real and personal, in its existing condition as of time of taking occupancy unless otherwise noted in writing. IX. ASSIGNABI LITY: (CHECK ONE) Buyer ❑may assign ® may not assign, Contract. X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control all printed provisions in conflict therewith. X1. INSULATION RIDER: If Contract is used for the sale of a new residence, the Insulation Rider shall be attached hereto and made a part hereof. X11. SPECIAL CLAUSES: THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR Copyright 1981 by The Florida Baran, WITNE ES: (Two recom ended ut NOT required) WITNESSES: (Two recommended but NOT required) (SEAL) (Seller) (SEAL) (Seller) Deposit(s) under I I (a) received; if check, subject to clearance. By; (Escrow Agent) BROKERAGE FEE: Seller agrees to pay the registered real estate Broker named below, at time of closing, from the disbursements of the proceeds of sale, com- pensation in the amount of in % of gross purchase price or $ - - - -- , for his services in effecting the sale by finding a Buyer, ready, willing and able to purchase pursuant to the foregoing Contract. In the event Buyer falls to perform and deposit(s) is retained, 50% thereof, but not exceeding the Broker's fee above computed, shall be paid to the Broker, as full consideration for Broker's services including costs expended by Broker, and the balance shall be paid to Seller. If the transaction shall not be closed because of refusal or failure of Seller to perform, the Seller shall pay said fee In full to Broker on demand. Earl D. Wi therby Real Estate (SEAL) (Name of Broker) (Seller) (SEAL) (SEAL) REV.: 3/81 (Seller) FLORIDA F.A.R. Standard form ilea; 74L 1st Printing 2/77 REALTOR ® COUNTER OFFER ,,ff Dated: ..�?. Pg. ��..�/is... Time: .�Q;.l` /1 ................. The offer to purchase the real property located at... ..... ... '.`��.'�K... O g (i N j,T,.. � .................. ......................................................................................................................................... ............................... madeby ....:7 dr. ...l.T�.., a..aS13�4.5 f/,. N ............................................................. ............................... dated ..... N141L / 5, I /Fs...._. is not acceptable in the following respects, with regard to which a counter offer is submitted as follows: Terms not accceptable: Counter offer terms: t X Pe �1 U ................................................... ............................... ..... 44.... .... .... .... . .� . .i.o ... ........ t 0... .. ... .` ..y ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ............_...................................... ............................... ................................................... ............................... ....... . .......................................... . ....... I .............. I........ ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... ............................................ ............................... 1...... ................................................... ............................... ................................................... ............................... ................................................... ............................... ................................................... ............................... All other terms of the offer are acceptable and, by this reference, are made a part of this counter offer. RIGHT TO ACCEPT OTHER OFFERS: Seller reserves the right to accept any other offer prior to Buyer's delivery of acceptance of this offer. EXPIRATION: This counter offer shall expire unless a copy hereof with Buyer's written acceptance is delivered to seller or his agent within ..�. ..... .........................days from date. ✓�' .............. .........................Seller ............... t.............. ....... .. ✓..... ...... ,.lti Accepted: .................. Dated:........ Buyer ............... Receipt of Acceptance acknowledged. Dated: ..................................... .............. Time :.............................. ................ ............................... Buyer ... Time ........... ............................... u City of Sebastian Jim Gallagher POST OFFICE BOX 127 0 SEBASTIAN, FLORIDA 32958 -0127 Deborah C. Krages Mayor TELEPHONE (305) 589 -5330 City Clerk April 11, 1985 Mr. Harvey G. Holmgren Earl D. Witherby, Inc. Real Estate Post Office Box 960 Sebastian, Florida 32958 RE: Corner Lot located at Barber Street and Rose Bush Terrace Dear Mr. Holmgren: This is to advise that the City Council, during their Regular Council Meeting, April 10, 1985, authorized a counter offer of Four Thousand ($4,000.) Dollars, for the above referenced. We await your clients decision and your notification. Should you have any questions or require any additional s information please feel free to contact me. Very truly yours, Deborah C. Kra g es� City Clerk d CC: Councilman Vallone Mayor Gallagher ,,�', � r _. r.`� �' do' ��: !� N� ��4 `T� i t i Y City of Sebastian Jim Gallagher POST OFFICE BOX 127 ❑ SEBASTIAN, FLORIDA 32958 -0127 Deborah C. Krages Mayor TELEPHONE (305) 589 -5330 City Clerk April 15, 1985 Mr. Harvey G. Holmgren Realton- Associate Witherby, Inc. P.O. Box 960 Sebastian, Fla. 32958 RE: Contract for Sale and Purchase, Lot #1, Block 208, Unit #10, Sebastian Highlands Dear Mr. Holmgren: The City Council on April 10, 1985, authorized a counter offer for the referenced property at the price of $4,000.00. Attached find two (2) copies of the contract for sale and purchase of the referenced property with the corrected purchase price of $4,000.00, representing a counter offer by the City of Sebastian. Sincerel , Jim Gallagher Mayor JG /jmt _a Cite of Sebastian Jim Gallagher POST OFFICE BOX 127 ❑ SEBASTIAN, FLORIDA 32958 -0127 Deborah C. Krages Mayor TELEPHONE (305) 589 -5330 City Clerk April 11, 1985 Mr. Harvey G. Holmgren Earl D. Witherby, Inc. Real Estate Post Office Box 960 Sebastian, Florida 32958 RE: Corner Lot located at Barber Street and Rose Bush Terrace Dear Mr. Holmgren: This is to advise that the City Council, during their Regular Council Meeting, April 10, 1985, authorized a counter offer of Four Thousand ($4,000.) Dollars, for the above referenced. We await your clients decision and your notification. Should you have any questions or require any additional' information please feel free to contact me. Very truly yours, Deborah C. Kra g es� City Clerk d CC: Councilman Vallone Mayor Gallagher l Cite o f Sebam, 2 Jim Gallagher POST OFFICE BOX 127 ❑ SEBASTIAN, FLORIDA 32958 -0127 Mayor TELEPHONE (305) 589 -5330 March 19, 1985 TO: Peter Vallone, Chairman Parks and Recreation Committee FROM: Mayor Jim Gallagher Attached find a letter from Mr. Harvey Homgren, regarding the City's attempt to purchase property at the Barber Street Ball Park. I submit this for your committee's review and recommendation. The asking pr' - -iz� $6,000.00. However, a counter offer of 64,000.0 should be considered. Please inform the Council as soon as your committee reviews this matter. Thanks. '" e e d 0K JG /jmt Attachment Deborah C. Krages City Clerk EARL. D. WITHERBY INC. REAL. ESTATE March 18, 1985 RECEIVED MAR 1 9 198� Mayor Gallagher City of Sebastian Main Street Sebastian, Fla. 32958 Dear Mr. Gallagher: Several months ago I contacted your office on the matter of the City of Sebastian to purchase the parcel of land on the southwest corner of Rosebush & Barber St. This parcel of land is located by the backstop of the Ball Field. It is being used by the patrons of the park for parking. I believe the City of Sebastian should buy this land because it would keep the parking off the streets. The Recreation Committee has made it known to me that they would be willing to buy the land. My client is willing to sell. I have enclosed a Contract for Sale and Purchase, leaving out the amount of deposit, the acceptance and closing date. Very Truly Yours, HARVEY G. HOLMGREN REALTOR - ASSOCIATE P. 0. Box 960 Suite 1, Washington Plaza Sebastian, FL 32958 ka- 589 -0050 Winner EARL D. WITH' Home : 5i11 - 10638 Earl D. (Skip) Witherby REAL ESTATE Lic. Real Estate Broker ESTIMATED SELLER'S PROCEEDS PREPARED FOR: d O r#f E.I J '0t`PA1A4A J04M i0A/ DATE 6- / 9 t r PROPERTY ADDRESS: A oT 1 a 0a/< mot UN 17'1 o SALES REPRESENTATIVE: 19'i4RV EY /VdAmZ: ?CN BASED ON SELLER'S PRICE SHOWN BELOW AND CLOSING DATE OF AJ Ay 3 / /I SJ- SELLING PRICE: $ S-000.00 ENCUMBRANCES FIRST MORTGAGE SECOND MORTGAGE OTHER LESS: TOTAL ENCUMBRANCES GROSS EQUITY: ESTIMATED SELLING COSTS: APPRAISAL FEE TITLE INSURANCE y; DOCUMENTARY STAMPS (.40/$100) PRICE MORTGAGE TRANSFER FEE MORTGAGE INTEREST PREPAYMENT PRIVILEGES( %)$ FHA /VA DISCOUNT POINTS ( %) $ BROKERAGEFEE LEGAL FEE INTANGIBLE TAX (2 MILLS) NEW MORTG. DOCUMENTARY STAMPS (.15/$100) NEW MORTG. RECORDING FEES PREPARATION OF DEED REPAIRS WAREHOUSE FEE PHOTOS TERMITE INSPECTION LESS: APPROXIMATE SELLING COSTS SUB -TOTAL ESTIMATED PRORATIONS: REAL ESTATE TAXES $ /YR. PROPERTY INSURANCE $ AYR. OTHER ESTIMATED NET PRORATIONS ESTIMATED SELLER'S PROCEEDS: LESS: MORTGAGE TO SELLER $ $ s -*0 -6 J. 7. O $.00.00 $ 6gr.so $ 413.tz:5'0 $ $ $ S,30 $ ESTIMATED CASH PROCEEDS: $ SELLER UNDERSTANDS AND AGREES THE ABOVE APPROXIMATED COSTS ARE CALCULATED TO THE BEST OF THE SALES REPRESENTATIVE'S ABILITY AND ARE NOT WARRANTED FOR ACCURACY BY THE BROKER OR SALES REPRESENTATIVE. DATE SELLER SALES REP SENTATIVE f SELLER Ems' 4 P b � BOX 1960 1623 U:. May 15, 1985 City of Sebastian P.O. Box 127 Sebastian, FL 32958 RE: Lot 1, Block 208, Unit 10, Sebastian Highlands Attention: Mayor Jim Gallagher RECEIVED MAY 1 d �rR Enclosed please find your First American Title Insurance Commitment naming you the proposed insured. After all the requirements have been met, as stated on this commitment, we will then issue your Title Insurance Owners Policy insuring you as the aforementioned property in the amount of $5,000.00. Also enclosed please find an original and two copies of the Purchasers closing, statement for your review and signatures. Please sign the original and one copy and return these to our office in the return envelope we have enclosed for your convenience. The extra copy is to be retained for your records. After you have executed the above, return the closing statements along with a CASHIERS or CERTIFIED CHECK made payable to EXECUTIVE TITLE OF SEBASTIAN, INC., in the amount of $4,476.11, representing the amount required to close. Should you require further assistance or if you have any questions, we will be pleased to hear from you. Sincerely, Karen L. Wait Closing Officer : klw enclosures